Idaho Falls, Idaho-based DocuTech and San Mateo, Calif.-based Dorado have announced a new Web service that speeds the use of SMART Docs.Scheduled to become available in the second quarter, the system integrates DocuTech’s ConformX online closing system as a Web service on Dorado’s .MOR platform to deliver “the first end-to-end mortgage document system as an easily accessible Web service.” The announcement at the Mortgage Bankers Association of America's mortgage technology conference in Orlando, Fla., said the service provides upfront disclosure documents, traditional closing documents, and compliant SMART (securable, manageable, archivable, retrievable, and transferable) Docs. The alliance, created to leverage electronic commerce standards developed through the MBA’s Mortgage Industry Standards Maintenance Organization, offers the ConformX-.MOR integration adaptor as “a ready-made solution for lenders preparing to implement an eMortgage strategy today.” DocuTech can be found online at http://www.docutechcorp.com.
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The partnership was designed to support the growth of Redwood's Sequoia platform and give Castlelake purchasing power for fully documented loans.
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The technology firm posted annual gains in servicing, origination and closing solutions, although the segment at large posted an operating loss.
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